- Pension managers rushing to offload risk
- Dividends on course to keep rising
Legal & General (LGEN) showed considerable resilience in its half-year results as rising interest rates started to make their impact felt in the annuity market and the company’s insurance reserves. The rising tide meant the life insurance provider saw surplus capital generation rising by 14 per cent to £946mn, and meant it was able to continue the long unbroken rise in its already chunky dividend.